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Shrinkage Control Analysis Failure Factors More often than not, companies with inventory shrinkage problems have attempted to address this issue through a variety of ways including the copying a successful retailer's efforts, purchasing expensive anti-theft equipment, or adding more personnel. Unfortunately, few of those strategies prove cost-effective, because little, if any, worthwhile effort has been made to accurately identify that company's primary shrink contribution factor(s) and to implement programs/strategies which are custom designed to meet their cultural/operational needs. Successful Strategies Over our quarter century in the loss prevention/inventory shrinkage control consulting field, Hayes International has established its highly successful track record as result of having developed an exceptional understanding of how the multiple components of inventory shrinkage, company culture, and operational and inventory accounting practices actually interface on a daily basis to either positively or negatively impact inventory shrinkage. We have learned that the very first step towards effective inventory shrinkage control must commence with this in-depth analysis to accurately identify the client's primary shrinkage causing factors (internal theft, external theft and paper/systems errors). This is not a process of a few key executives giving their perceptions of what is creating loss, and then purchasing equipment or developing some strategies to meet their perceived need. Guesswork usually results in failure! To be successful, management must gain a clear understanding of the role that each contributing factor is playing in the overall shrinkage problem. Once we identify our client's primary shrinkage-related problems, we analyze the ways, methods, and programs used to deal with those problems. We take particular pride in the type of report document we present to the client. We are specific in defining our concerns and recommendations for shrinkage improvement. (Many of our clients refer to our report as their "road map" to successful inventory shrinkage control.) We best relate this approach to one of a doctor and patient. The process must commence with a comprehensive 'examination'. Appropriate treatment cannot be prescribed through a 'cursory' checkup, or face-to-face interview. The road to recovery requires an in-depth Shrinkage Control Analysis and very specific medication. During this analysis, Hayes Consultants personally visit and analyze in-depth our client company's operations within distribution/warehousing, store and home office environments which effect the movement and accountability of product from point of receipt to point of sale or disposal. Payback on Consulting Fee Investment Hayes International not only helps a client company to become more profitable as result of improved shrinkage control, we routinely help each client to ensure that current and anticipated loss prevention-related expenditures are both meaningful and worthwhile. For the past quarter century, we have proven our expertise in being able to conduct in-depth analyses of both "paper/systems" and theft-related issues for small businesses just getting started to large multi-billion dollar companies. We do not believe that any of our "competition" possesses such an overall level of expertise. |
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